Published: 2025-05-05T01:11:42.000Z
Chart EUR/JPY Update: Settled back in consolidation below 164.00
Technical Analyst
2
Limited on break above the 164.00 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 166.00 | * | congestion | S1 | 163.00 | * | congestion | |
| R3 | 165.00 | ** | congestion | S2 | 162.00 | * | congestion | |
| R2 | 164.63 | * | 2 May high | S3 | 161.70 | * | 30 Apr low | |
| R1 | 164.00 | ** | congestion | S4 | 161.00 | ** | 22 Apr low, congestion |
Asterisk denotes strength of level
01:05 GMT - Limited on break above the 164.00 resistance and rejection from the 164.63 high see prices unwinding overbought intraday studies. Below the 164.00 level see room for deeper pullback to support at the 163.00 congestion and where renewed buying is expected. Failure to hold this will open up room for deeper pullback to strong support at the 162.00/161.70 area. Meanwhile, resistance is at 164.00 and extends to 164.63 high. Clearance here will see further continuation to the 164.90/165.00, December high and congestion area.